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I have fixed my credit and come along way over the past year. I am being held back by two capitalone charge-off's on my report.
One has been sold to midland and will fall off my report next august. I have been trying to pfd that but nothing.
The one that is really hurting me is a charge off from capitalone that will not fall off my account til 2017. My quesrtion is, The account is nearing 4 years old since date of last activity but I think capitalone still owns it and has not turned it over to collections.
Could that be right? If so, would it be worth contacting capoone to take care of the 4 year old charge off before it gets turned over to collections?
@ddemari wrote:I have fixed my credit and come along way over the past year. I am being held back by two capitalone charge-off's on my report.
One has been sold to midland and will fall off my report next august. I have been trying to pfd that but nothing.
The one that is really hurting me is a charge off from capitalone that will not fall off my account til 2017. My quesrtion is, The account is nearing 4 years old since date of last activity but I think capitalone still owns it and has not turned it over to collections.
Could that be right? If so, would it be worth contacting capoone to take care of the 4 year old charge off before it gets turned over to collections?
If they are not updating monthly I advise you to leave them alone. Cap-1 is not going to delete them, very few every succeed and when they do its usually in year 6 since the DoFD. Your states SOL will also dictate what you do with them, if its still inside you would be looking at paying in full including accrued interest and fees. If the OC is still reporting a balance its a good sign they still own it.
Hello,
A friend of mine had the same issue with a Capital One CO, what she did was ask for a settlement and paid it and now Capital One posts it as a paid chargeoff, settled for less than full amount. You could pay it in full if you want, but Capital One is no good on having their tradelines removed.
A couple of years ago I came to a settlement with Cap1 which involved them deleting the tradline and I only paid them 10% of the debt. Certaintly wasn't easy though.
It's certainly odd that Capital One sold a charge-off. They usually keep everything in house. One of my friends had 4 credit cards open with Capital One and they were all charged off. That was 5 or 6 years ago since the date of last activity on her account and Capital One never sold them off. She was telling me how stubborn they were about getting a payment plan set up, so be weary of that. Anyways, I would verify they sold it to Midland before doing anything with that one. As for the other one, I would call Capital One and ask for a Pay for Delete. Tell them you will pay off the balance once they give you confirmation that they will delete it from your report. Make sure you get something official from them before stating they will remove the tradeline before paying it though.
Good info thanks. I also have a Cap One CO that is due to fall off in about a year. I think I'm gonna leave it alone as I don't have funds to PIF at the moment. Good to know they likely won't send to collections though